World News Live Updates: China Intensifies Crackdown On Counterfeit Labubu Dolls

The Bank of England’s Monetary Policy Committee is widely expected to cut interest rates by 0.25 percentage points to 4.0% on Thursday, according to a report in The Guardian. The move is anticipated by City traders as a measure to prevent an economic downturn amid rising unemployment and the global trade impact of new import tariffs from US President Donald Trump’s administration. If implemented, this would mark the fifth rate reduction since August of the previous year, returning interest rates to a level last seen in March 2023.

Dubai has introduced the world’s first AI-generated “Emirati Family” to deliver government communications and promote digital services to the public, according to a report in The Times of India. The initiative aims to enhance public interaction with smart government services by combining traditional Emirati culture with advanced AI technology. This project is a key part of Dubai’s broader strategy to solidify its position as one of the top-five global cities for artificial intelligence and aligns with its ongoing digital transformation efforts, including the UAE National AI Strategy 2031. The goal is to make government information more accessible and relatable to all communities within the city.

China and Russia have launched their ‘Joint Sea-2025’ military exercises in the Sea of Japan near the Russian port of Vladivostok, Al Jazeera said in a report. According to China, the drills are scheduled to last for three days. The event continues a long-standing pattern of military cooperation, with the two nations having conducted ‘Joint Sea’ drills regularly since 2012.

Ukraine has claimed responsibility for a drone strike on a Russian oil refinery in Novokuybyshevsk, approximately 1,000km from the border, causing a significant explosion, Al Jazeera says in a report. This incident is part of a wider Ukrainian strategy to target Russia’s energy infrastructure, aiming to disrupt its war economy and logistics. The strike’s long range demonstrates Ukraine’s growing drone capabilities, posing a challenge to Russian air defenses far from the front lines. Attacks on refineries are strategically significant as they impact Russia’s capacity to produce refined fuels, potentially affecting both domestic supply and critical export revenues.

Russia significantly escalated its aerial assault on Ukraine in July, launching a record number of drones that was reportedly over 14 times higher than in July 2024, as per a report in Al Jazeera. This intensification is seen as part of a broader Russian strategy to overwhelm and exhaust Ukraine’s Western-supplied air defense systems, such as the Patriot and NASAMS. The attacks primarily target critical infrastructure, including energy and port facilities, aiming to cripple Ukraine’s economy and civilian morale. This shift towards high-volume, relatively low-cost drone warfare underscores Russia’s reliance on asymmetric tactics and its increasing domestic production of drone models.

UK-based cybersecurity firm Darktrace is targeting revenues of $1 billion as it accelerates its expansion in the US following its acquisition by private equity firm Thoma Bravo, according to a report in the Financial Times. The strategic push comes after the US private equity firm completed its £5.3 billion acquisition of Darktrace in July 2023, taking the company private and providing significant capital for growth. The expansion drive will focus on increasing investment in Darktrace’s US sales and marketing teams and its channel partner network to capture a larger share of the lucrative North American market. This move is expected to intensify competition within the US cybersecurity sector, which is experiencing robust growth due to escalating cyber threats.

China is enforcing new travel restrictions that now extend to a broad range of public employees, including those in non-sensitive, low-level positions such as elementary school teachers and nurses, according to a report in The New York Times. These employees have been ordered to hand in their passports as part of a measure to enforce what authorities describe as ‘discipline’. This policy represents a significant expansion of previous passport controls, which were typically limited to high-ranking officials. The move is seen as part of a wider trend to increase state control, ensure loyalty to the Communist Party, and prevent the outflow of skilled professionals.

Derk Sauer, a Dutch media entrepreneur who built a publishing empire in the post-Soviet Russia of the 1990s, has died at 72, The New York Times says in a report. He was renowned for founding influential, independent publications like The Moscow Times and the business daily Vedomosti, which thrived during a brief era of relative media openness. As the political climate shifted and the state began systematically dismantling press freedom from the early 2000s, Sauer became a staunch defender of independent journalism. His death marks a symbolic end to the freewheeling, chaotic period of the 1990s and underscores the current reality in Russia, where independent media has been largely suppressed or forced into exile.

European bank shares have surged to their highest levels since the 2008 financial crisis, driven by rising long-term interest rates and unexpected economic resilience in the Eurozone, according to a report in the Financial Times. This rebound is largely attributed to the European Central Bank’s aggressive interest rate hikes to combat inflation, which have significantly boosted banks’ net interest margins. The sector’s stronger position is also supported by improved capitalization and regulatory frameworks established after the 2008 crisis, fostering renewed investor confidence. While beneficial for bank profitability, the higher rates translate to increased borrowing costs for consumers and businesses.

The new chief of Japan’s Norinchukin Bank has vowed to implement a more cautious investment approach after the major cooperative institution reported a $12 billion loss from its bets on US Treasuries, the Financial Times said in a report. The executive stated that the bank, previously known for its substantial purchases of US debt, had taken on positions that were excessively risky. The significant losses are primarily a result of the decline in market value of its existing bond portfolio, driven by the US Federal Reserve’s aggressive interest rate hikes. This strategic shift by a historically large foreign investor could have implications for overall demand in the US Treasury market.

The UN Children’s Fund (UNICEF) has warned that one in three Palestinians in Gaza are now going days without food, highlighting a severe humanitarian crisis and a grave risk of famine, Al Jazeera says in a report. The situation has reportedly led to 162 starvation-related deaths, including 92 children. This development aligns with prior warnings from humanitarian bodies about persistent obstacles to aid delivery and the insufficiency of alternative methods like airdrops, exacerbating the food crisis and raising concerns over adherence to international law.

A 17-year-old Palestinian boy, Atef Abu Khater, has reportedly died from malnutrition in Gaza, with his family stating his weight had dropped to just 25kg (55lbs), Al Jazeera says in a report. The event highlights the severe humanitarian crisis in the region, which international agencies have warned is approaching famine conditions, particularly impacting children and adolescents. This death adds to concerns over compliance with international humanitarian law and intensifies calls from the global community for unimpeded aid access to the territory.

The global security landscape is becoming increasingly volatile as several nuclear-armed states advance their capabilities, according to a report in The Washington Post. Key developments include Russia’s suspension of the New START treaty, the last remaining arms control pact with the US, and China’s significant expansion of its nuclear arsenal, including the construction of new missile silos. Concurrently, North Korea continues to develop its missile programs, and Iran has increased its uranium enrichment to near weapons-grade levels, raising concerns with the International Atomic Energy Agency (IAEA). These actions are straining the Nuclear Non-Proliferation Treaty (NPT) and increasing the risks of miscalculation and escalation, which has significant political and economic implications for international stability.

Chinese authorities are seizing thousands of counterfeit “Lafufu” dolls in a widespread crackdown on intellectual property theft, according to a report in The Washington Post. The operation targets fakes of the internet-viral Labubu dolls, which are owned by Chinese collectible toy giant Pop Mart. This enforcement action is part of a larger national strategy to protect domestic brands and the burgeoning ‘trendy play’ industry, focusing on disrupting manufacturing and sales through e-commerce and cross-border channels. The move aims to protect consumers, bolster the value of authentic collectibles sold in a ‘blind box’ format, and improve China’s international standing on IP protection.

The UK government is set to introduce a new UK-wide criminal offense banning social media ads that promote small boat journeys across the Channel, according to a report in The Guardian. This proposed change to the border security bill would also make it a crime to advertise fake passports, visas, and fraudulent work opportunities. Perpetrators who create and share these advertisements could face penalties including up to five years in prison and a significant fine, as part of the government’s broader strategy to disrupt the business model of human traffickers.

Syria’s Defence Ministry has accused the Kurdish-led Syrian Democratic Forces (SDF) of injuring four army personnel and three civilians in a rocket attack near the strategic northern city of Manbij, according to a report in Al Jazeera. The accusation highlights escalating tensions between the Syrian government and the SDF, threatening stability in a region already complicated by the presence of Turkish, Russian, and US forces. This direct confrontation risks undermining any political dialogue and could divert resources from counter-terrorism operations against ISIS remnants, potentially allowing the group to regroup amidst the renewed instability.

An estimated 173,000 people have been displaced in Syria’s Sweida province since mid-July following an escalation in sectarian clashes between local Bedouin and Druze communities, France 24 said in a report. The conflict has prompted humanitarian organizations to assist in evacuating civilians from devastated areas. A majority of the displaced Bedouins have found refuge in temporary shelters in the neighboring province of Daraa, with many having fled without their belongings.

Italy will commence airdrops of humanitarian aid over Gaza, joining France and Spain in efforts to alleviate a severe humanitarian crisis where UN-backed experts have warned of famine, according to a report in France 24. Foreign Minister Antonio Tajani confirmed on Friday that he has authorized a mission involving the Italian Army and Air Force to transport and deliver basic necessities to civilians. The first aid drops could begin as soon as August 9, marking an expansion of international efforts to use air deliveries as a last resort due to severe restrictions on land-based aid routes.

The European Union has officially condemned Macau authorities for arresting former pro-democracy lawmaker and activist Au Kam-san over alleged national security violations, according to a report in South China Morning Post. In a statement, the EU said the arrest raises concerns about the “ongoing erosion of political pluralism and freedom of speech” in the special administrative region. The move is seen as aligning Macau more closely with the political crackdown observed in Hong Kong, signaling a stricter enforcement of Macau’s own 2009 national security law and intensifying international scrutiny over Beijing’s “One Country, Two Systems” framework. This development increases political risk and uncertainty for the former Portuguese enclave, which was returned to Chinese rule in 1999.

Russian forces continued their advance in Ukraine for a fourth straight month in July, with the pace of operations reportedly accelerating, according to a report in France 24. Moscow has claimed control over nearly 80% of the Donetsk region, though independent analysis suggests the figure is closer to 50-60%. The sustained push follows Ukraine’s stalled 2023 counter-offensive and has been aided by delays in Western military aid and Russia’s effective use of guided glide bombs. The current offensive is focused on strategic objectives like Chasiv Yar and the logistical hub of Pokrovsk, putting significant pressure on Ukrainian defensive lines and worsening the humanitarian crisis in the east.